Overview
What is Chamber Benefit Arrangement Trust?
The Chamber Benefit Arrangement Trust is a nonprofit organization situated in Akron, Ohio, with the address 388 S Main St STE 205. It is a multiple employer welfare arrangement, founded to offer self-funded medical and prescription drug benefits to its participating employers and their eligible dependents, employees, and spouses. In order to join, employers must maintain membership in good standing with the Greater Akron Chamber of Commerce or an affiliated chamber. Each employer sponsors its unique benefit plan within the Trust.
What are the reviews and ratings of this charity?
Chamber Benefit Arrangement Trust is not currently rated by Charity Navigator. This lack of rating arises because the organization is not a 501(c)(3) IRS registered nonprofit, meaning it falls outside the types of organizations Charity Navigator evaluates. The absence of a rating is neutral, signifying neither positive nor negative standings.
Without the typical evaluation criteria applicable, such as Accountability & Finance, and Impact & Measurement, there's limited insight into Chamber Benefit Arrangement Trust's operational strengths or areas for improvement. Essential financial data, including revenue and expenses, are not available, highlighting a limitation in transparency through the usual channels.
There are no user reviews available from GreatNonprofits, which means there isn't community feedback to paint a more subjective picture of the organization's impact or reputation. As a result, potential supporters or interested parties may need to seek additional information directly from the organization or other trusted sources.
This AI summary has been generated from information found on Charity Navigator.
Is Chamber Benefit Arrangement Trust legitimate?
Chamber Benefit Arrangement Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Chamber Benefit Arrangement Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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What is the mission statement of Chamber Benefit Arrangement Trust?
The Chamber Benefit Arrangement Trust functions as a multiple employer welfare arrangement, with a mission to offer self-funded medical and prescription drug benefits to its member employers and their eligible dependents. The organization was established to address the healthcare needs of its members in a collective and cost-effective manner. Participating employers are required to maintain active membership in either the Greater Akron Chamber of Commerce or an affiliated chamber of commerce. Each employer sponsors its own benefit plan within the trust, allowing for customization while leveraging the collective bargaining power for enhanced benefits.
Who is the CEO of Chamber Benefit Arrangement Trust?
Steve Millard is the Chair/Trustee of Chamber Benefit Arrangement Trust.
What is the revenue of Chamber Benefit Arrangement Trust?
Chamber Benefit Arrangement Trust's revenue in 2022 was $37,534,917.
Who are the executives of Chamber Benefit Arrangement Trust and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Chamber Benefit Arrangement Trust?
Chamber Benefit Arrangement Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Chamber Benefit Arrangement Trust
The Chamber Benefit Arrangement Trust, a Multiple Employer Welfare Arrangement, was founded with a mission to self-fund and provide medical and prescription drug benefits for its member organizations and their eligible employees, dependents, and spouses. Established in the business community, this trust aims to extend healthcare solutions to its participating employers, who must maintain good standing within the Greater Akron Chamber of Commerce or an affiliated chamber. Each member employer contributes to and sponsors its own benefit plan under the trust's umbrella. By pooling resources, the Trust enables smaller businesses to offer competitive benefits to their workforce, fostering employee attraction and retention. The Chamber Benefit Arrangement Trust functions as a collective force, ensuring economies of scale and affordability in healthcare benefits for its members.
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Impact
October, 2024
Chamber Benefit Arrangement Trust plays a significant role in enhancing healthcare access and affordability for participating employers and their employees. By offering self-funded medical and prescription drug benefits, the trust empowers employers to tailor their health care plans to meet the specific needs of their workforce. This flexibility can lead to better health outcomes, as employers can choose coverage options that align with the demographics and health requirements of their employees.
Members of the trust, which include employers from the Greater Akron Chamber of Commerce and affiliated chambers, benefit from shared resources and collective bargaining power. This arrangement often results in lower administrative costs and improved pricing for health benefits, making it financially advantageous for smaller businesses that may struggle to provide competitive health packages.
Furthermore, the trust fosters a sense of community and collaboration among its members, leading to knowledge sharing and best practices in managing employee health. By prioritizing self-funded arrangements, the Chamber Benefit Arrangement Trust contributes to the overall sustainability of the healthcare ecosystem in the Akron area, enabling employers to support the health and well-being of their employees and their families effectively.
This information is meant to be a general summary of Chamber Benefit Arrangement Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $7,105
- Program Service Revenue: $37,527,812
- Gross Receipts: $37,534,917
Assets and Liabilities:
- Total Assets: $11,230,971
- Total Liabilities: $10,526,652
- Net Assets: $704,319
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYERS' CONTRIBUTIONS
Revenue
$37,527,812
Organization Details
Founding Year
2018
Phone
(330) 376-5550Principal Officer
Steve Millard
Main Address
388 S MAIN ST STE 205, AKRON, OH, 44311
NTEE Category
Code: Y43 - Mutual benefit
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